Author: Sahil Poudel

Pi Coin Market Cap Crashes to $0 on CoinMarketCap – Glitch or Disaster?

Summary: The market cap of Pi Coin’s IOU has recently zeroed out on ComCoinMarketCap, puzzling the Pi community immensely. Although no one is sure what the actual cause is, many think of it as a technical issue. Regardless of this drop, it still has a Fully Diluted Valuation (FDV) of 3.51 billion. This allows for some semblance of optimism for a potential official release.

There is considerable turbulence even before the official release of Pi Coin’s IOU version. The market cap value on CoinMarketCap has dramatically declined to zero, which has raised a lot of concern among Pi holders. The Pi community, which was anticipating the big launch in Q1 this year, is now confused about the sudden drop. While some believe this to be a technical glitch on CoinMarketCap, many others are worried about the underlying factors.

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Fortunately, there is some positive news Pi is still garnering interest. The FDV continues to hold its place at $3.51 billion. In addition to this, the token has been active recently, increasing from $40 to $51.7. That is a 30% increase in under a week. Most of this trading activity is occurring on BitMart, which accounts for approximately 75% of the trades, while HTX comes in second with 25%. However, the price on HTX is significantly lower.

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At the moment, the Pi family is staying put and waiting to understand if this market cap issue is something deeper than just a glitch.

Binance Claps Back at Reserve FUD: No Assets Sold

Binance just shut down the latest rumors about it secretly dumping assets after reports surfaced of a major drop in its reserves. The exchange made it clear—no assets were sold, and user funds are still locked up safe and sound.

According to data, Binance’s reserves at the end of January 2025 included 2,746 BTC, 275 million USDT, 174 ETH, and 4,179 SOL. But compared to December 2024—when it reportedly held 46,896 BTC, 2.99 billion USDT, 216,312 ETH, and 442,234 SOL—it looks like there’s been an $8 billion drop, setting off alarm bells.

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Binance isn’t having it. The team says these fluctuations aren’t because of asset sales but internal treasury management. In other words, they’re just moving money around behind the scenes, not cashing out. They also reminded everyone that user assets are fully backed and protected by the Secure Asset Fund for Users (SAFU)—a fund created just for emergencies.

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Plus, Binance’s Proof of Reserves system supposedly ensures everything is backed 1:1, meaning users can withdraw their money whenever they want. Even though Binance insists there’s nothing shady going on, crypto traders and analysts are keeping an eye out for any more unexpected moves.

Poland’s Central Bank Says ‘Hard Pass’ to Bitcoin: Stability Over Crypto Volatility 

Summary: The central bank of Poland has doubled down on its rejection of Bitcoin for reserve assets, citing volatility, security risks, and lack of stability. According to NBP President Adam Glapiński, reserves must be “absolutely secure,” and he favors gold, USD, and euros. Despite crypto’s global rise, Poland remains cautious, sticking to traditional assets.

In fact, Glapiński recently told a press conference that Bitcoin is out of the question for Poland’s reserves. “We will not consider Bitcoin under any circumstances, as reserves must be absolutely secure,” he said, according to the Warsaw Business Journal. He cited Bitcoin’s unpredictable price swings and lack of central backing as deal-breakers for the country’s financial strategy.

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Poland’s gold reserves, currently at EUR 217.1 billion (USD 225.4 billion) as of January 2025, are in the form of gold, U.S. dollars, and euros. Glapiński lauded the timing of Poland’s gold purchases as the value is going up in economic uncertainty.

The skepticism of the NBP is not new-it warned about crypto risks, such as theft and volatility, back in 2017. The bank repeated that cryptocurrencies are not supported by any central authority and do not constitute legal tender. While some in the crypto community criticize the move, Poland insists it’s all about risk management and long-term stability.

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TL;DR: Poland’s Central Bank is not investing in Bitcoin, instead continuing to rely on gold and more traditional currencies as a hedge.

XRP Takes a Dip: ETF Hype Can’t Stop the FUD as Investors Stay Wary 

XRP’s price tumbled 2% to $2.43; trading volume jumped 40% to $5.49B. ETF chatter aside, investors remain skeptical, and XRP remains at square one. Experts are divided on whether XRP will sink to $1.37 or stage a recovery anytime soon.

XRP’s been moving like a snail lately, even with all the ETF hype. Market guru EGRAG CRYPTO dropped some truth bombs on X, saying XRP could tank 54-59% (hello, $1.37!) before bouncing back. But not everyone’s doomposting—Dark Defender spotted a key Fibonacci level at $2.4467 and an oversold RSI, hinting at a potential comeback.

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Also, the XRP is overextended as the RSI stands at 39-odd, near oversold. Further, XRP has retreated by 29% from January high of $3.39. On futures, Open Interest nosedived from $7.86B to $3.5B – very bearish. Whatever said and done, big-brain analysts would keep believing – XRP ETF discussions are very on and rumored to reach the US Strategic Reserve at $5.

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Kanye West Shuts Down $2M Crypto Scam Offer: ‘Not Scamming My Fam

Kanye West, aka Ye, just dropped some major tea on X—turning down a $2M offer to shill a shady crypto scheme. Like, who does that? King move, honestly. He spilled the deets in a Feb. 7 post, exposing how scammers wanted him to post fake crypto promo to his 32.6M followers, then pull the classic “my account got hacked” card. Sketchy, right? But Ye said, “Nah, not scamming my fam,” and dipped.

The deal? $750K upfront to keep the post live for 8 hours, then another $1.25M after 16 hours. Big yikes. Ye clapped back with, “I was proposed 2 million dollars to scam my community. Those left of it. I said no and stopped working with their person who proposed it.” Periodt.

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Later, he slid into crypto DMs, asking for a trusted contact, and someone name-dropped Coinbase CEO Brian Armstrong. Could Ye be cooking up his own crypto project? Or is this just hype for a new album? Either way, the internet’s buzzing.

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Fun fact: Ye’s had beef with crypto before (remember Coinye in 2014?), but now he’s vibing with it on his own terms. Could merch in crypto be next? Stay tuned, fam.

Ohio Wants a Bitcoin Stash—New Bill Pushes for Crypto Reserve

Ohio might be stacking sats soon! State Senator Sandra O’Brien just dropped a bill that could make Ohio the first U.S. state with its own Bitcoin reserve fund. If passed, Senate Bill 57 will let the state treasurer invest public funds exclusively in Bitcoin and hold onto them for at least five years.

O’Brien is all in on crypto, saying Ohio needs to be ahead of the curve—especially with Trump’s crypto team exploring a “national digital asset stockpile.” If Bitcoin is the future, Ohio wants a front-row seat.

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The bill also forces state agencies to accept crypto for taxes, fines, and fees, instantly converting payments into Bitcoin for the reserve. And it’s not just government funds—residents and universities can also donate BTC to the stash, earning some recognition for their contributions.

Ohio isn’t alone in the crypto game. In December, Rep. Derek Merrin introduced another bill (HB 703) pushing for even more Bitcoin investment flexibility. Meanwhile, Utah and Arizona are also working on crypto-friendly legislation.

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Bottom line? Ohio is making some big moves toward becoming a Bitcoin powerhouse, and if this bill passes, it could set the stage for other states to follow suit.

MetaMask Drops New “Gas Station” to Fix Failed Swaps

MetaMask just made life way easier with its new “Gas Station” feature—no more failed transactions just because you ran out of ETH. This upgrade lets users cover gas fees directly within their swaps, meaning no more scrambling to top up ETH just to complete a trade.

Right now, the feature is live for users who’ve enabled Smart Transactions on the Ethereum mainnet via the MetaMask Extension, with a mobile version dropping soon. Instead of manually buying ETH just to pay gas fees, the total cost now gets baked into the swap itself.

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Through that, MetaMask keeps competitiveness because the access is opened for the highest class of DEX aggregators and liquidity providers, giving the best rates and the lowest fees possible. Furthermore, the Gas Station supports multitable tokens for the gas payment: USDT, USDC, DAI, ETH, wETH, wBTC, wstETH, and wSOL-just in case the swap amount covers the fees.

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All MetaMask really did was make crypto transactions way smoother-no extra steps or stressing out about network fees; just swap and go.

Pi Network Hits 10M Migrations—Is the Open Mainnet Finally Dropping?

Pi Network recently reached a critical milestone with the migration of 10 million users to Mainnet; many are very optimistic that the highly expected launch of Open Mainnet will materialize earlier this year.

Pi Network is moving with big leaps: it has so far migrated more than 10 million accounts to its Mainnet-a big step toward full decentralization. This is a huge deal for users who have been mining Pi for years in wait for a full-fledged blockchain launch. However, the Pi Core Team made it clear that users have to finish the KYC and migrate their accounts to Mainnet or else they lose their Pi.

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To help stragglers, Pi Network has extended the Grace Period deadline to end of February this year. That means there’s still time for those who haven’t verified their identity to get their coins transferred. But the big question remains—when is Open Mainnet launching?Although not an official date has been confirmed, reaching 10 million migrations may mark the beginning of the big reveal.

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But, in fact, many in the Pi community consider that Open Mainnet might happen as early as Q1 of this year, where finally one will be allowed to trade, from a closed ecosystem to basically a full cryptocurrency network in actual operation. The next big piece of news everybody waits for concerns Pi Network:.

Canadian Hacker on the Run After $65M Crypto Heist

Summary: A Canadian-Andean, Medjedovic, has been accused of stealing cryptocurrency from two platforms, worth $65 million, and laundering that amount. On the run for 4 years now, he has still kept his hand in the crypto space, including trying to manipulate projects for his benefit.

Medjedovic, a former University of Waterloo master’s student, was accused of hacking Indexed Finance and KyberSwap, draining $49 million from the former and $16 million from the latter. Using his advanced math skills, he allegedly exploited smart contract vulnerabilities to manipulate token prices and make massive profits at the expense of investors. Even after being charged, he reportedly tried to negotiate control of KyberSwap in exchange for returning some stolen funds.

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A lawsuit filed in Canada and an Interpol warrant out for alleged financial crimes did not deter Medjedovic, who continued to be involved with crypto. His web presence indicated he considers himself some sort of “pirate” operating in the legal gray areas. The U.S. has taken over the prosecution, with the case led by the National Cryptocurrency Enforcement Team, NCET. According to Acting U.S. Attorney John Durham, criminals leveraging new technology to steal from investors will be brought to book, no matter where they have been hiding.

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Banks Should Be Allowed to Offer Crypto, Says Coinbase

Summary: Coinbase is telling U.S. regulators to chill out and let the banks offer crypto services. The exchange sent letters to the OCC, Federal Reserve, and FDIC to ask them to make crystal clear that banks can legally hold, trade, and partner with crypto companies.Right now, there’s too much red tape, and Coinbase says it’s unfair.

Coinbase is particularly calling out an OCC rule that acts like a secret approval process for banks wanting to get into crypto. They want it gone. The exchange also wants the Fed and FDIC to confirm that state-chartered banks can legally trade and custody crypto for customers. Their chief policy officer, Faryar Shirzad, argues that banks should be able to work with third-party providers to offer crypto services just like they do with traditional finance.

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Legal heavyweights back Coinbase on this. Three major law firms—Arnold & Porter Kaye Scholer, Cleary Gottlieb, and WilmerHale—say banks already have the right to offer crypto services, but regulators are being vague. Meanwhile, Congress is looking into “Operation Choke Point 2.0,” where regulators allegedly pressured banks to cut off crypto firms. Coinbase claims the FDIC even told banks to “pause” crypto-related activities behind closed doors.

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With Trump back in office, Coinbase is betting big on friendlier policies. Executives will testify before Congress this week, hoping lawmakers will step in and give banks the green light to fully embrace digital assets.

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